Granite Investment Partners LLC Cuts Stake in Simulations Plus, Inc. (SLP)
Granite Investment Partners LLC cut its position in Simulations Plus, Inc. (NASDAQ:SLP) by 12.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 254,937 shares of the technology company’s stock after selling 35,218 shares during the period. Granite Investment Partners LLC’s holdings in Simulations Plus were worth $3,148,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. KCG Holdings Inc. purchased a new position in Simulations Plus during the first quarter worth about $152,000. Schwab Charles Investment Management Inc. purchased a new position in Simulations Plus during the second quarter worth about $241,000. Telos Capital Management Inc. purchased a new position in Simulations Plus during the first quarter worth about $246,000. Spark Investment Management LLC increased its position in Simulations Plus by 70.9% in the first quarter. Spark Investment Management LLC now owns 30,600 shares of the technology company’s stock worth $359,000 after buying an additional 12,700 shares during the period. Finally, Menta Capital LLC increased its position in Simulations Plus by 33.9% in the first quarter. Menta Capital LLC now owns 40,102 shares of the technology company’s stock worth $471,000 after buying an additional 10,157 shares during the period. Hedge funds and other institutional investors own 28.46% of the company’s stock.
Simulations Plus, Inc. (NASDAQ SLP) opened at 13.95 on Friday. Simulations Plus, Inc. has a 52-week low of $7.90 and a 52-week high of $16.15. The company’s 50-day moving average price is $13.91 and its 200 day moving average price is $11.78. The stock has a market capitalization of $240.57 million, a P/E ratio of 44.29 and a beta of -0.71.
Simulations Plus (NASDAQ:SLP) last posted its earnings results on Friday, July 14th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. Simulations Plus had a net margin of 24.86% and a return on equity of 23.21%. The business had revenue of $6.75 million for the quarter, compared to analyst estimates of $6.48 million. On average, equities research analysts predict that Simulations Plus, Inc. will post $0.32 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 4th. Stockholders of record on Friday, July 28th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Wednesday, July 26th. Simulations Plus’s payout ratio is currently 62.50%.
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SLP has been the topic of a number of research reports. BidaskClub downgraded Simulations Plus from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research upgraded Simulations Plus from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research report on Tuesday, July 25th.
In other news, CEO Walter S. Woltosz sold 18,500 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $15.07, for a total transaction of $278,795.00. Following the sale, the chief executive officer now directly owns 5,684,916 shares of the company’s stock, valued at approximately $85,671,684.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Argenio David Z. D sold 21,326 shares of the stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $11.59, for a total transaction of $247,168.34. Following the sale, the director now directly owns 43,775 shares in the company, valued at $507,352.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 116,891 shares of company stock worth $1,420,606. Corporate insiders own 36.93% of the company’s stock.
About Simulations Plus
Simulations Plus, Inc (Simulations Plus) develops and produces software for use in pharmaceutical research and for education, and provides consulting and contract research services to the pharmaceutical industry. The Company offers five software products for pharmaceutical research. ADMET (Absorption, Distribution, Metabolism, Excretion and Toxicity) Predictor is a computer program that takes molecular structures as inputs and predicts over 140 different properties for them at the rate of about 200,000 compounds per hour.
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